A device of this type is known from European patent application 0 362 592 wherein a portion of the steering shaft is of bell-type design and the shaft is axially slidably supported. The rotation of the two shafts relative to one another is converted into an axial movement and is transmitted to the control valve by means of pins in the pinion shaft and coulisse-type guides in the bell-type portion of the steering shaft. Because the steering shaft displaces axially in this arrangement, a sophisticated and expensive coupling between the steering wheel and the steering shaft is required to prevent axial displacement of the steering shaft.